Travelling is a passion for many, but it often comes with a hefty price tag. However, with smart financial planning and the strategic use of digital rewards, you can make your dream holidays both affordable and unforgettable. Here’s how:
Smart financial planning: Effective budgeting is the cornerstone of affordable travel. You can start by setting a realistic travel budget that includes all potential expenses such as flights, accommodation, food, and activities.
Atul Shinghal, founder and CEO of Scripbox, said, “One must build a budget using Systematic investment plans (SIPs). By investing a fixed amount regularly in mutual funds, you can accumulate a significant amount over time without feeling the pinch. This disciplined approach ensures you have enough saved up for your travels.”
“While it might be tempting to finance your travels through personal loans or credit cards, the high interest rates can lead to significant debt. hence, one must avoid borrowing through personal loans or credit cards. Instead, plan and save in advance to avoid borrowing and the associated financial stress,” he added.
Leveraging digital rewards: Credit card rewards and loyalty programs can significantly reduce travel costs. Shinghal said, “Opt for travel credit cards like the HDFC Bank Diners Club or SBI Card Elite, which offer points or miles for every rupee spent. These points can be redeemed for flights, hotel stays, and other travel-related expenses. Joining hotel loyalty programs such as Marriott Bonvoy or Hilton Honors can also earn you free nights and exclusive benefits.”
Finding the best deals: Digital tools can help you find the best travel deals. Use flight comparison websites like Skyscanner and Google Flights to find the cheapest flights. For accommodation, platforms like Airbnb, MakeMyTrip, Tripadvisor and Booking.com offer a range of options to suit any budget. Websites like Groupon and Travelzoo provide discounts on travel packages, activities, and dining, helping you save even more.
Embracing local experiences: To truly experience a destination without overspending, immerse yourself in local culture. “Use platforms like Viator and GetYourGuide to find affordable local tours and activities. Opt for public transportation and explore local markets and street food for authentic and budget-friendly dining experiences,” said Shinghal.
By combining smart financial planning with the strategic use of digital rewards and tools, you can travel more frequently and enjoy richer experiences without straining your finances. Start planning your next adventure today and make your holidays truly priceless.